UPDATE 1-ComWest buys army garment maker for C$22 mln

Newswire

* Says to fund deal with debt and equity * Purchases stake from Newport Partners Income Fund TORONTO, Aug 19 (Reuters) - ComWest Enterprise Corp announced a deal on Thursday to buy 90 percent of Winnipeg-based Peerless Garments for C$22.28 million in cash. Peerless, founded in 1940, supplies severe weather garments to the Canadian forces and had annual average annual revenue of C$35 million in 2008 and 2009. "We are acquiring a very high quality niche market business with a long ...

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